Shiba Inu Unveils New Update Regarding SHEboshi Minting Phases

Shiba Eternity Launch: A Game-Changer for SHIB?

The Shiba Inu ecosystem team recently shared a comprehensive update regarding the minting process of SHEboshi, a collection of 20,000 uniquely generated NFTs. Divided into three distinct phases, this initiative aims to engage and reward the SHIB community and enthusiasts alike.

Phase 1: Rewarding Shiboshi Holders

In the initial phase, Shiboshi holders who have shown unwavering support for the Shiba Inu NFT program are eligible to claim SHEboshi. A snapshot of all Shiboshi wallets was taken at block 19227900 to facilitate this, ensuring transparency and eligibility. Shiboshi holders can mint one SHEboshi for each Shiboshi NFT they possess, with zero cost except for gas fees. The claim window opened yesterday and spans 48 hours, emphasizing prompt action from Shiboshi holders to secure their SHEboshi NFTs within 16 hours of the announcement to avoid forfeiture.

Related article: Shiba Inu: Shibarium Records Historic 3 Million Daily Transactions

Phase 2: LEASH Holder Priority

Following Phase 1, the second phase initiates immediately after the initial claim window closes. Priority shifts to Doge Killer (LEASH) holders, irrespective of the quantity they possess. LEASH holders can mint SHEboshi for a nominal fee of 0.05 ETH ($146), excluding gas fees. 

However, this announcement led to a surge in LEASH demand, with prices witnessing a significant uptick from $295 to $313. The 24-hour window prompts swift action from LEASH holders aiming to capitalize on this exclusive opportunity.

Phase 3: Open to the General Public

The final phase opens the minting process to the broader crypto community. After the Phase 2 claim window concludes, anyone can participate in minting SHEboshi. Similar to Phase 2, each SHEboshi unit costs 0.05 ETH, with the claim window remaining open until all 20,000 NFTs are successfully minted. Transitioning from exclusive phases to a more inclusive approach, Phase 3 ensures wider accessibility to SHEboshi NFTs, fostering broader community engagement.

Related also: Shiba Inu Looks to Finalize All Projects as Analyst Predicts 113,302% Surge

Bridge to Shibarium and Distribution of Proceeds

While all SHEboshi NFTs will initially be minted on the Ethereum network, plans are underway to bridge them to Shiba Inu’s L2 blockchain, Shibarium, enhancing scalability and efficiency. Proceeds from the SHEboshi sale serve multiple purposes, including token incineration for SHIB, BONE, LEASH, SHI, and TREAT, as well as allocation towards team initiatives, non-profit projects, foundation support, and operational expenses. This dual-purpose distribution underscores the commitment to both sustainability and community-driven endeavors within the Shiba Inu ecosystem.

Trading and Market Dynamics

SHEboshi NFTs are tradable on OpenSea, with a floor price set at 0.109 ETH ($318). As per OpenSea data, SHEboshis boasts a total volume of 1,159 ETH, equivalent to approximately $3.38 million. The platform serves as a vibrant marketplace for collectors and enthusiasts to engage in trading activities, contributing to the dynamic ecosystem surrounding SHEboshi.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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